Delta Corp reports growth in gaming revenue for Q4 2024, boosting overall performance

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Indian casino operator Delta Corp has announced a 3.6% increase in its consolidated net profit for Q3 FY25, reaching ₹35.73 crore, despite a 7.5% decline in revenue from operations, which stood at ₹194.33 crore compared to the same period last year.

The decline in revenue was partly attributed to a 3.36% drop in revenue from the company’s casino gaming division, which brought in ₹175.44 crore. However, Delta Corp’s online skill gaming division showcased strong growth, posting a 16.15% year-on-year (YoY) increase to ₹45.45 crore, providing a silver lining for the quarter.

As reported by Business Standard, despite the growth in net profit, profit before tax (PBT) took a significant hit, plunging 40.8% to ₹29.42 crore, compared to ₹49.68 crore in Q3 FY24. Total expenses rose 2.49% YoY to ₹177.64 crore, driven by a 13.26% increase in the cost of materials consumed, which reached ₹18.06 crore. License and registration fees saw a marginal decline of 3.35% YoY to ₹30.34 crore.

Delta Corp, the only listed company in India engaged in live, electronic, and online casino gaming, remains a key player in the gaming industry. While its casino gaming revenue saw a dip, the online gaming segment continues to flourish, signaling a shift in consumer preferences toward skill-based online platforms.

The company operates prominent casinos, including Deltin Royale, Deltin JAQK, and Kings Casino, as well as hotel-casino resorts like Deltin Suites in Goa and Casino Deltin Denzong in Sikkim. Additionally, its online platforms, Adda52.com and Adda52rummy.com, are notable contributors to its online gaming revenue.

Delta Corp has been navigating regulatory challenges concerning the Goods and Services Tax (GST) on gaming companies. The firm has filed writ petitions and received stay orders from High Courts, labeling the tax demands as arbitrary. While the courts have yet to provide a resolution, Delta Corp remains optimistic about a favorable outcome.

Despite the mixed financial performance, the company’s stock saw a decline of 2.90%, closing at ₹107.05 on the Bombay Stock Exchange (BSE).

As part of its growth strategy, Delta Corp recently announced plans to separate its gaming operations from its hospitality and real estate divisions, a move that aims to streamline its focus on the burgeoning gaming market.

As the gaming landscape in India continues to evolve, Delta Corp’s dual focus on casino gaming and online skill-based gaming positions it uniquely to leverage emerging opportunities while addressing regulatory hurdles.

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